US mortgage rates hit highest since November 2023

ISTANBUL: US mortgage applications decreased last week, while mortgage rates hit their highest level since November 2023, according to a Mortgage Bankers Association (MBA) report released Wednesday.

The market composite index, a measure of mortgage loan application volume, fell 2.7 percent on a seasonally adjusted basis for the week ending April 19. On an unadjusted basis, the index decreased 2 percent compared with the previous week.

“Mortgage rates continued to move higher last week, reaching their highest levels since late 2023 and putting a damper on applications activity,” Joel Kan, MBA’s vice president and deputy chief economist, said in a statement.

The average contract interest rate for a 30-year fixed mortgage rate increased to 7.24 percent last week, reaching its highest level since November 2023, from 7.13 percent the previous week.

The average contract interest rate for 15-year fixed-rate mortgages, meanwhile, rose to 6.75 percent from 6.64 percent.

“Purchase applications declined, as home bu
yers delayed their purchase decisions due to strained affordability and low supply,” Kan said.

The MBA survey covers more than 75 percent of US retail residential mortgage applications.

Source: Philippines News Agency

Marcos names Hans Cacdac as DMW chief


MANILA: President Ferdinand R. Marcos Jr. has named Undersecretary Hans Leo Cacdac as Secretary of the Department of Migrant Workers (DMW).

Cacdac’s appointment was signed by Marcos on Thursday, a copy of which was made available to the media.

He served as officer in charge of the DMW after the passing of former secretary Susan ‘Toots’ Ople in August last year.

Before his ad interim appointment in the Cabinet, Cacdac also served as Executive Director V of the Overseas Workers Welfare Administration; Executive Director V of the Philippine Overseas Employment Administration; and Undersecretary of the Department of Labor and Employment.

Source: Philippines News Agency

U.S. sent ATACMS missiles to Ukraine following Russia’s use of N.K. missiles: White House


The United States has shipped longer-range tactical missiles to Ukraine for use in the fight against Russian forces following Moscow’s use of North Korean ballistic missiles against the war-torn country, the White House confirmed Wednesday.

National Security Adviser Jake Sullivan said that in February, President Joe Biden directed his aides to provide Ukraine with a “significant” number of the Army Tactical Missile Systems (ATACMS) missiles for use inside the Ukrainian territory and that the shipments have arrived in the country.

“(The arrival) followed Russia’s procurement and use of North Korea’s ballistic missiles against Ukraine, as well as Russia’s renewed and escalating attacks against civilian infrastructure in Ukraine,” Sullivan told a press briefing.

He added that Washington plans to send more missiles, but he did not specify the shipment volume due to “operational reasons.”

“I believe they will make a difference,” he said.

The missile deliveries came before the U.S. House of Representatives vot
ed Saturday to endorse a US$95 billion aid package for Ukraine, Israel, Taiwan and others in an approval that ended a monthslong political impasse.

The provision of the missiles with a range of about 300 kilometers marked a policy shift. Sullivan said that the U.S. was unable to send ATACMS missiles due to “readiness concerns.”

“But behind the scenes, the administration across the board has worked relentlessly to address those concerns,” he said. “We now have a significant number of ATACMS coming off the production line and entering U.S. stocks, and as a result, we can move forward with providing ATACMS, while also sustaining the readiness of the U.S. armed forces.”

Sullivan warned that the “path ahead” will not be easy as Russia will double down on its attacks. But he expressed confidence in Ukrainians’ endeavors to repel invaders.

“Over time, we assess that Ukraine’s position in this conflict will improve, and we believe that Ukraine can and will win,” he said. “As I’ve said from this podium before, no
one in this room, and no one anywhere else should underestimate the Ukrainian people, and no one should underestimate President Biden’s resolve and the American people’s resolve.”

Asked to comment on suspected military ties between North Korea and Iran, Sullivan pointed to “linkages” in defense cooperation between the two countries.

“Episodically, over the course of many years and many administrations, we’ve seen various linkages in defense cooperation between North Korea and Iran that’s come and gone, ebbed and flowed,” he said.

What is new or different over the course of the last two years is cooperation between Russia and Iran and between Russia and North Korea, Sullivan noted.

“We believe that this is a matter of grave concern to the security of Europe, way beyond the borders of Ukraine,” he said. “We’re also concerned about what may happen in the other direction. What is Russia going to provide to North Korea or Iran that will destabilize the Indo-Pacific or destabilize the Middle East?”

Source: Yo
nhap News Agency

La Union provides vet services to farm animals to combat El Niño

MALASIQUI: The Office of the Provincial Veterinarian (OPVet) has provided free vitamins, deworming, and other veterinary services to farm animals in the province to ensure their health against the impact of the El Niño phenomenon.

The La Union Provincial Information Office (PIO) told the Philippine News Agency on Thursday that almost 900 small and large ruminants such as cattle, carabao and goats have benefited from the OPVet’s programs since last March.

“The project initiated by Governor Raphaelle Veronica Ortega-David seeks to enhance the health and wellness of farm animals, as the El Niño phenomenon is expected to take a toll on them,” it said.

The common illnesses livestock experience in times of drought are heat stroke and heat stress, the PIO said.

The OPVet is also providing other services such as castration, artificial insemination and estrus synchronization, it added.

Provincial veterinarian Dr. Domingo Bobby Calub III, in a statement, said they are visiting communities to provide technical assi
stance and capacitate residents on veterinary services.

‘Our visits to the communities also enable us to gather primary data on livestock population in each barangay, which shall form part of our digital registry that will be our basis for data-driven animal services in the future,’ he said.

He said pet and livestock animals should be hydrated and sheltered in shaded areas.

Ortega-David said this initiative seeks to uphold the livelihood of farmers and livestock industry players to increase their production and sustain food sufficiency in the province.

Source: Philippines News Agency

PNP Region 6 nets 1.5K wanted persons in Q1

ILOILO CITY: The intensified efforts of various police units under the Police Regional Office 6 (PRO6) have resulted in the apprehension of 1,501 wanted persons in the first quarter of this year.

The figure, however, was a bit lower compared to the same period last year at 1,857, said PRO6 spokesperson Lt. Col. Arnel Solis.

‘The accomplishment is attributed to the commitment and dedication of operatives on the ground and the support of their unit commanders,’ Solis said.

He added that 267 were tagged as most wanted, while 1,234 were classified as other wanted persons.

‘Most wanted persons are those facing heinous cases while other wanted persons are involved in minor cases,’ he said.

The Negros Occidental Police Office (NOCPPO) achieved the highest arrest with 657, followed by Iloilo PPO with 299, and Bacolod City PO has 126. Iloilo City PO contributed 111; Antique PPO, 106; Aklan PPO, 82; Capiz PPO, 77; and Guimaras PPO, 31.

Other units, including the Criminal Investigation and Detection Group, arreste
d nine and three from the Regional Mobile Force Battalion 6 (RMFB6).

Meanwhile, two separate sting operations conducted by the Regional Police Drug Enforcement Unit (RPDEU) and the Iloilo City Police Office (ICPO) Tuesday night and early morning of Wednesday in Barangay San Jose, Arevalo, Iloilo City, seized 390 grams of suspected shabu valued at over PHP2.65 million.

Collared were high-value individuals alias “Mico,” 33 years old, previously arrested in 2017 for a drug case but availed of the plea-bargaining agreement, and 36-year-old “Ryan,” a ‘Tokhang’ surrenderee, all residents of Molo districts.

The suspects will be charged with a violation of Republic Act 9165, also known as the Comprehensive Dangerous Drugs Act of 2002.

Source: Philippines News Agency

S. Korea reports highest suicide rate, ultra fine dust level among OECD nations: data


South Korea had the highest suicide rate among member nations of the Organization for Economic Cooperation and Development (OECD) in 2022, data showed Thursday.

The report on major factors on social safety presented by Statistics Korea also showed that the country logged the highest ultrafine dust level among OECD member nations.

The number of suicides per every 100,000 South Koreans came to 25.2 in 2022, down from the previous year’s 26.

The figure has been trending down moderately from the peak of 28.5 in 2013, but it remained at the highest level among major advanced nations.

Based on the 2020 data, South Korea had the highest suicide rate among OECD member nations, with 24.1 out of every 100,000 people.

Lithuania was a distant second with 18.5 and Slovenia with 15.7, followed by Japan with 15.4 and Belgium with 14.8, according to the OECD data.

According to the data on ultrafine dust, the average ultrafine dust density stood at 25.9 micrograms per cubic meter in 2020, the highest level among the OEC
D member nations.

Ultrafine particles are smaller than 2.5 micrometers in diameter and are also known as PM 2.5.

Chile came next with 24.2 micrograms per cubic meter and Turkey with 22.6 micrograms per cubic meter. The level in Japan came to 13 micrograms per cubic meter, the data showed.

The report also showed that South Korea reported 41,433 sexual violence cases in 2022, up 25.9 percent on-year.

The increase was mainly attributable to the growth in cybercrime, the agency said.

As for driving under the influence, the number of car accidents caused by drunken driving rose 1.1 percent to 15,059 cases in 2022.

The rate of drivers experiencing drunken driving came to 3.3 percent in 2022, unchanged from the previous year.

The rate of people who drank at least once per month inched up to 54 percent in 2022, marking the first on-year growth in six years.

Meanwhile, the proportion of senior citizens living alone came to 21.1 percent last year, up 0.2 percentage point on-year, amid rapid population aging and
the fast growth of single-member households, the report showed.

Source: Yonhap News Agency